Full and Final Settlement

Benefits of Full & Final settlements:

  • Save large amounts of money by settling the accounts for less than you owe
  • Pay off the accounts faster than you would if you paid them in full
  • Pay off individual accounts when you can afford to do so
  • Can sometimes stop things like CCJ’s/ Charges by agreeing to settle the account

Disadvantages of Full & Final settlements:

  • Can take time to get a successful & low settlement acceptance
  • The account is listed as being ‘partially satisfied’ on your credit file
  • You require a lump-sum to be able to do it
  • Your age, occupation and method of raising a lump-sum can affect the settlement they accept

About Full & Final Settlements

Full & Final Settlement allows you to repay an unsecured account with a one-off lump-sum payment which is lower than the total balance outstanding. This may be used in conjunction with a re-mortgage or a secured loan application where we will have negotiated the settlement figure before the mortgage or secured loan is offered. Some creditors may accept as little as 20% of the outstanding balance depending on your financial situation, therefore you will be saving a lot of money in the long-run by choosing this option.

Is this suitable for you?

Using a method from our ‘contact us’ page- find out how we can help you and your finances. Alternatively, you can request a call back by submitting your name, contact number, desired date & time to be contacted and a brief message in the ‘request a call-back section’.